In this paper analyse the evolution of the world economy, and namely of the financial economy from the point of view of Knowledge Management (KM). It is an interesting and important question because we believe that the transactions which generated the crisis were a form of KM. It is also a neglected question and this happens because KM we don't know any study about KM and the financial crisis of 2007 and its consequences. We use a conceptual study with applications methodology, divided in two parts; in the first part we review the economic and financial theories that may be applied to the analysis of the financial crisis as a KM topic, dealing with bonds, assets, shares and derivatives, and rationality and its limits; In the second we compare the KM and the economic theories and analyse in theory and in practice the growing complexity and the increased problems of the financial world from a point of view of KM. We conclude that in the end the crisis was created by a failure in the standards of KM and by the increase in practices with increasingly high KM needs and shortages. As a practical consequence we believe that KM has been seen as a tool for managing companies but it is much more than that. Therefore we suggest that KM should be applied to the managing of the financial markets in the near future. For scholars we believe that this paper opens a new avenue for research and a very important one. The paper's strength is also its big limitation - given the importance of the "Casino Economy" this one is only a very modest and first try in what we believe can be a new branch in KM analysis. The paper is divided in four sections. In the first section we do a literature review. In the second section we analyse the years 1990-2015 based on the main hypothesis derived from the literature review. In the third section we discuss the results, considering the paper's limitations and implications. In the fourth section we summarize the conclusions and present ideas to future research.